LUWELLE: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
LUWELLE
Largest movements
- Tangible fixed assets +€101,315
up €101,315 (+848.7%), from €11,937 to €113,252
of which Plant, machinery and equipment: +€95,531
- Cash -€12,894
down €12,894 (-75.3%), from €17,118 to €4,224
mainly Investment in fixed assets (net) (-€117,763) and Accrued charges and deferred income (-€4,168)
- Receivables within one year -€8,798
down €8,798 (-48.4%), from €18,178 to €9,380
of which Trade receivables: -€9,075
- Other debts +€65,091
up €65,091 (+226.3%), from €28,766 to €93,858
- Profit (loss) carried forward +€6,998
up €6,998 (+58.3%), from -€11,995 to -€4,997
- Debts after one year +€6,887
new in 2025: €6,887
- Current portion of long-term debt +€6,025
new in 2025: €6,025
- Accrued charges and deferred income -€4,168
down €4,168 (-93.1%), from €4,478 to €310
- Depreciation +€13,053
up €13,053 (+314.8%), from €4,146 to €17,198
- Gross operating margin +€9,866
up €9,866 (+51.7%), from €19,091 to €28,957
- Other operating charges -€1,778
down €1,778 (-81.6%), from €2,178 to €400
- Financial charges +€1,766
up €1,766 (+1589.4%), from €111 to €1,878
- Taxes -€767
down €767 (-23.6%), from €3,250 to €2,483
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,179 | €136,391 | +€78,212 | +134.4% |
| Fixed assets | 21/28 | €18,687 | €119,252 | +€100,565 | +538.1% |
| Intangible fixed assets | 21 | €6,750 | €6,000 | -€750 | -11.1% |
| Tangible fixed assets | 22/27 | €11,937 | €113,252 | +€101,315 | +848.7% |
| Land and buildings | 22 | €10,291 | €16,539 | +€6,248 | +60.7% |
| Plant, machinery and equipment | 23 | €716 | €96,248 | +€95,531 | +13337.7% |
| Furniture and vehicles | 24 | €930 | €465 | -€465 | -50.0% |
| Current assets | 29/58 | €39,492 | €17,139 | -€22,353 | -56.6% |
| Stocks and contracts in progress | 3 | €4,196 | €3,535 | -€661 | -15.8% |
| Stocks | 30/36 | €4,196 | €3,535 | -€661 | -15.8% |
| Amounts receivable within one year | 40/41 | €18,178 | €9,380 | -€8,798 | -48.4% |
| Trade receivables | 40 | €18,150 | €9,075 | -€9,075 | -50.0% |
| Other amounts receivable | 41 | €28 | €305 | +€277 | +979.1% |
| Cash at bank and in hand | 54/58 | €17,118 | €4,224 | -€12,894 | -75.3% |
| Total equity and liabilities | 10/49 | €58,179 | €136,391 | +€78,212 | +134.4% |
| Equity | 10/15 | €6,605 | €13,603 | +€6,998 | +105.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,995 | -€4,997 | +€6,998 | +58.3% |
| Amounts payable | 17/49 | €51,574 | €122,788 | +€71,214 | +138.1% |
| Amounts payable after more than one year | 17 | - | €6,887 | +€6,887 | |
| Financial debts | 170/4 | - | €6,887 | +€6,887 | |
| Amounts payable within one year | 42/48 | €47,096 | €115,590 | +€68,494 | +145.4% |
| Current portion of amounts payable after more than one year | 42 | - | €6,025 | +€6,025 | |
| Trade debts | 44 | €9,618 | €10,838 | +€1,220 | +12.7% |
| Suppliers | 440/4 | €9,618 | €10,838 | +€1,220 | +12.7% |
| Taxes, remuneration and social security | 45 | €8,712 | €4,870 | -€3,842 | -44.1% |
| Taxes | 450/3 | €8,712 | €4,870 | -€3,842 | -44.1% |
| Other amounts payable | 47/48 | €28,766 | €93,858 | +€65,091 | +226.3% |
| Accrued charges and deferred income | 492/3 | €4,478 | €310 | -€4,168 | -93.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,146 | €17,198 | +€13,053 | +314.8% |
| Other operating charges | 640/8 | €2,178 | €400 | -€1,778 | -81.6% |
| Gross operating margin | 9900 | €19,091 | €28,957 | +€9,866 | +51.7% |
| Operating profit (loss) | 9901 | €12,767 | €11,359 | -€1,408 | -11.0% |
| Financial income | 75/76B | €287 | €0 | -€287 | -100.0% |
| Recurring financial income | 75 | €287 | €0 | -€287 | -100.0% |
| Financial charges | 65/66B | €111 | €1,878 | +€1,766 | +1589.4% |
| Recurring financial charges | 65 | €111 | €1,878 | +€1,766 | +1589.4% |
| Profit (loss) for the period before taxes | 9903 | €12,942 | €9,481 | -€3,461 | -26.7% |
| Income taxes | 67/77 | €3,250 | €2,483 | -€767 | -23.6% |
| Profit (loss) for the period | 9904 | €9,692 | €6,998 | -€2,694 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,692 | €6,998 | -€2,694 | -27.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.